VATBRIDGE

VATBRIDGE and Reclaim Finance launch new R&D product



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Specialist lender VATBRIDGE has formed a joint venture with Reclaim Finance to launch a new R&D product to further support property professionals.

The product will fund research and development tax credits with finance being provided to companies making tax reclaims in respect of their R&D spend that will be remitted to them in cash from HMRC.

Mark Dickson, managing director at Reclaim Finance, said that the product would be targeted at construction companies.

“If a builder or developer is undertaking R&D, then it can provide valuable funding.”

The launch of the product comes after VATBRIDGE secured a £50m funding line in July.

Mark expected the product to see significant demand as many property professionals were not taking advantage of the benefits of the R&D tax credits regime operated by HMRC.

“We aim to raise awareness of the scheme and assist companies through the process of making a claim and funding it.”

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